Cromford Report 4-3-14 by Jim Miner South Scottsdale Realtor

Real Estate Agent with Miner Noh & Associates

Here is the Cromford Report 4-3-14 by Jim Miner South Scottsdale Realtor and this is the Mid-Week Real Estate Report.  The Cromford Report is prepared by Michael Orr at ASU.  This week Michael has presented information which is very revealing as to to where the market could be headed for the rest of the year.  The real estate report has focused on four House Price Points; 0-200K, 200K-500K, 500K-2 million, and 2 million and above.  Within those brackets he has shown the closed sales for 2014 vs. 2013, the number of listings  in 2014 vs. 2013, and an accumulated number of closed sales for the last 13 years per month (this identifies which month has the most closed sales and which one has the least).

It is very important to understand this report is for South Scottsdale  and also the rest of the greater Phoenix Area.   If is not nor should it be used for projection of real estate market trends throughout the nation.

The closed sales for each price bracket will give us a view of the demand trend, the number of homes which are listed gives us a reading on the direction and strength of housing supply, and the aggregate closed sales for each month gives us a picture as to which months and times of the year have the highest volume of transactions.

The importance and relevance of knowing the months which have the highest amount of volume is it gives us a good indication as to what kind of demand we can expect.

If you are a seller, wouldn't it be helpful to know the points of the year that have the highest demand?  If the charts show us supply is aggressively increasing and demand is slowing, that by definition describes a Buyers Market.  So one's "purchase plan" or "sellers plan" should be based on this knowledge.


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Jim Miner

Loan Modfication & Short Sale Specialist
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